How Blockchain and IoT are Improving Transparency in Ready-Mix Concrete Supply Chains
According to Persistence Market Research's projections, The global ready-mix concrete (RMC) market is experiencing significant growth, with projections indicating a rise from US$ 538.9 billion in 2024 to approximately US$ 758.3 billion by the end of 2031, expanding at a compound annual growth rate (CAGR) of 5% during this period. This surge is driven by increasing urbanization and infrastructure development worldwide. However, the RMC supply chain faces challenges related to transparency, traceability, and quality control. To address these issues, integrating Blockchain and Internet of Things (IoT) technologies offers promising solutions. Challenges in the Ready-Mix Concrete Supply Chain The RMC supply chain is intricate, involving multiple stakeholders such as raw material suppliers, manufacturers, transporters, and construction sites. This complexity often leads to issues like information silos, manual record-keeping, and limited visibility across the supply chain. Consequen...